5.- Step 3 - Fundamental Analysis.pdf

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Sec5_Step3.pdf
5-Step Investing Formula
Online Course Manual
5
Step 3: Fundamental Anaylsis
Section 5 of 11
www.investools.com
© 2005 INVESTools Inc. All rights reserved.
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THE 5-STEP INVESTING FORMULA
Step 3: Fundamental Analysis
Section Contents
SECTION 5 Step 3: Fundamental Analysis
Phase 1 .................................................................................................5
Phase 2 .................................................................................................8
Price Pattern ..................................................................................10
Volatility .........................................................................................13
Zacks Report .................................................................................15
Market Guide .................................................................................20
News .............................................................................................25
AutoAnalyzer™ ....................................................................................29
© 2005 INVESTools Inc. All rights reserved.
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THE 5-STEP INVESTING FORMULA
Step 3: Fundamental Analysis
Course Overview
INTRODUCTION
SECTION 1 Getting Started
Logging into the INVESTools Investor Toolbox
Support Links
Workshop Review
Account Information
Subscription Renewal
Technical Support
Contact an Instructor
SECTION 6 Step 4: Technical Analysis
Technical Indicators
Moving Averages
MACD
Stochastics
Volume
Support & Resistance
Buy Signals
Money Management
Sell Stop Orders
How Many Shares to Buy
Sell Signals
Insider Trading
SECTION 2 Introduction to Investing
Tolerance for Risk
Setting Goals
Asset Allocation
Tax Exposure
Brokerage Firms
Introduction to the 5-Step Investing Formula
SECTION 7 Step 5: Portfolio Management
Creating a Portfolio
Managing Your Portfolio
Paper Trading Account
THE 5-STEP INVESTING FORMULA
SECTION 3 Step 1: Searching for Stocks
Using a Prebuilt Search
Navigating the List of Stocks
BONUS SECTION
SECTION 8 Bonus Topics
TurboSearch
Index Tracking Stocks / Exchange-Traded Funds
Dow Jones Industrial Average—
The Diamonds (DIA)
S&P 500—The Spider (SPY)
NASDAQ—The Qs (QQQQ)
SECTION 4 Step 2: Industry Group Analysis
Top-Down Analysis
Big Chart
AutoAnalyzing All Stocks in a Group
Best & Worst Industries List
SECTION 9 Introduction to Options
Advantages/Risks of Options
Leverage
Call Options
Put Options
Covered Calls
SECTION 5 Step 3: Fundamental Analysis
Phase 1
Phase 2
Price Pattern
Volatility
Zacks Report
Market Guide
News
AutoAnalyzer™
SECTION 10 Appendix
Phase 2 Stock Scoring Form
Phase 2 Quick List for Zacks Report and
Market Guide
Investment Tracking Record
SECTION 11 Glossary
© 2005 INVESTools Inc. All rights reserved.
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THE 5-STEP INVESTING FORMULA
Step 3: Fundamental Analysis
Step 3: Fundamental Analysis
Fundamental analysis is the process of determining whether or not a particular
company is a good investment.
The first step in fundamental analysis is Phase 1, which is included as part of
the search results page. However, it is only a shortcut to determining whether
a stock is good or bad and is less important than the Phase 2 process.
Phase 2 is the most important part of the fundamental investigative process.
The Investor Toolbox now automatically scores nearly all of Phase 2 for you.
But to understand what makes a fundamentally sound company, we will show
you what the computer is grading point by point.
By doing fundamental analysis on a company, you reduce or limit the amount
of emotion that comes with an investment decision: either a stock passes or
it doesn’t. Fundamentals tell us the good and bad, helping reduce risk. Good
fundamentals provide a great foundation for companies to build on. It’s been
said: “Know the fundamentals and trade the technicals.”
© 2005 INVESTools Inc. All rights reserved.
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THE 5-STEP INVESTING FORMULA
Step 3: Fundamental Analysis
Phase 1
The Phase 1 score is the first step in a
fundamental analysis. This score is shown
on the search results page (these scores are
updated every 24 hours).
To learn about Phase 1 we’ll use Hovnanian
Enterprises (HOV) stock as an example. In
the search results table, this stock scores
9/2 for Phase 1—an excellent score.
Remember, Phase 1 is just a shortcut,
whereas Phase 2 is more in-depth and
reveals more of a company’s fiscal strength.
Note: Evaluate every stock... don’t just buy
the first stock on the list.
Finding the Phase 1 Score
Another way to find the Phase 1 score for a
stock is to go to the main graph of the stock
and then scroll down below the graph.
Remember, click on the stock symbol on
the search results page to access the stock
graph.
The Phase 1 chart is located below the
graph on the left-hand side. Here it lists
the individual scores of the 13 criteria that
comprise Phase 1. These criteria look for
those things that have traditionally signaled
value in a stock.
© 2005 INVESTools Inc. All rights reserved.
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